Cognitive Biases and Decision Making Quiz

Explore behavioral economics with these 25 quiz questions covering cognitive biases and decision-making tendencies. Test yourself now!

#1

Which cognitive bias involves giving preference to information that confirms our existing beliefs?

Confirmation Bias
Availability Bias
Anchoring Bias
Hindsight Bias
#2

Which cognitive bias involves the tendency to rely on the most recent information when making decisions?

Recency Bias
Anchoring Bias
Halo Effect
Framing Effect
#3

Which cognitive bias involves the tendency to judge the likelihood of an event based on its similarity to a prototype?

Representativeness Heuristic
Anchoring Bias
Availability Bias
Framing Effect
#4

Which cognitive bias involves the tendency to place greater value on things simply because one owns them?

Endowment Effect
Loss Aversion
Sunk Cost Fallacy
Availability Bias
#5

Which cognitive bias involves the tendency to overestimate the likelihood of events based on their availability in memory?

Recency Bias
Anchoring Bias
Availability Bias
Framing Effect
#6

What is the tendency to rely too heavily on the first piece of information encountered when making decisions?

Recency Bias
Anchoring Bias
Framing Effect
Halo Effect
#7

In decision making, what is the tendency to see patterns or trends based on random or unrelated information?

Gambler's Fallacy
Hindsight Bias
Apophenia
Sunk Cost Fallacy
#8

In decision making, what is the tendency to focus on the potential loss rather than the potential gain when evaluating choices?

Endowment Effect
Loss Aversion
Availability Bias
Sunk Cost Fallacy
#9

Which cognitive bias involves the inclination to believe that events or outcomes will be more predictable after they have already occurred?

Hindsight Bias
Outcome Bias
Anchoring Bias
Availability Bias
#10

In decision making, what is the tendency to rely on the first piece of information encountered when making judgments?

Confirmation Bias
Anchoring Bias
Halo Effect
Primacy Effect
#11

Which cognitive bias involves the inclination to believe that one's future actions will be consistent with past behavior?

Consistency Bias
Self-Serving Bias
Hindsight Bias
Optimism Bias
#12

In decision making, what is the tendency to rely on the most recent and readily available information when making judgments?

Recency Bias
Anchoring Bias
Framing Effect
Availability Bias
#13

Which cognitive bias involves the tendency to believe that future events are more predictable after they have occurred?

Hindsight Bias
Outcome Bias
Anchoring Bias
Confirmation Bias
#14

In decision making, what is the tendency to make choices that minimize the potential for regret rather than maximizing expected value?

Regret Aversion
Loss Aversion
Sunk Cost Fallacy
Confirmation Bias
#15

Which cognitive bias involves the tendency to believe that one's past successes are a result of skill and future failures are due to bad luck?

Self-Serving Bias
Hindsight Bias
Outcome Bias
Fundamental Attribution Error
#16

Which cognitive bias involves the overestimation of one's own abilities and the underestimation of the abilities of others?

Dunning-Kruger Effect
Self-Serving Bias
Impostor Syndrome
Optimism Bias
#17

What is the tendency to give more weight to the present than the future when evaluating outcomes?

Time Discounting
Outcome Bias
Sunk Cost Fallacy
Endowment Effect
#18

What is the tendency to attribute success to one's abilities and efforts while attributing failure to external factors?

Fundamental Attribution Error
Self-Serving Bias
Confirmation Bias
Groupthink
#19

In decision making, what is the tendency to continue investing time, money, or resources in a project despite evidence that it is not succeeding?

Sunk Cost Fallacy
Overconfidence Bias
Escalation of Commitment
Recency Bias
#20

What is the tendency to attribute positive events to one's own character but attribute negative events to external factors?

Self-Serving Bias
Fundamental Attribution Error
Confirmation Bias
Availability Bias
#21

In decision making, what is the tendency to reject new evidence that contradicts existing beliefs?

Confirmation Bias
Status quo Bias
Anchoring Bias
Groupthink
#22

What is the tendency to attribute one's successes to internal factors and failures to external factors?

Self-Serving Bias
Fundamental Attribution Error
Confirmation Bias
Overconfidence Bias
#23

In decision making, what is the tendency to continue investing in a course of action despite evidence that it is not yielding the desired results?

Sunk Cost Fallacy
Escalation of Commitment
Recency Bias
Loss Aversion
#24

What is the tendency to attribute success to internal factors and failures to external factors, especially when comparing oneself to others?

Self-Serving Bias
Fundamental Attribution Error
Confirmation Bias
Social Comparison Bias
#25

In decision making, what is the tendency to place greater importance on the immediate benefits of a decision while ignoring the potential long-term consequences?

Hyperbolic Discounting
Outcome Bias
Sunk Cost Fallacy
Recency Bias

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